Macro market sentiments - Nvidia drove up the global tech markets, again. Federal interest rate is in a limbo now, with more speculation about maintaining the rate and some sentiment about bringing the rate up even more to curb inflation.
All my REITs all took damage. While I did not pay much attention to the REIT performance, can see people already exiting and trying to enter lower - perhaps to recoup some losses from the plunge.
Got a scrip dividend offer for Lendlease REIT. Its going to be 1 lot issued to me, so perhaps I can just give it a shot.. idk.
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Tried my hands on trading again. Penning down notes below for my future reference.
1st tried Seatrium. Entered at 0.097 after seeing the buying pressure and buy up volume is high. So my sense is, even next day the volume will not suddenly reverse and have high selling volume, so there is a period of tapering off for me to look for an exit.
Turns out my hypothesis is correct. Next day it spiked to 0.103, but volume really tapered off, and with volume tapering off I had to start to look for an exit.
Stupid me still hoping that the price will continue going up, but I managed to wake up and exited at 0.100 before it started its descent. Now at 0.088, I felt at least I did ok, my method worked.
So my next trade - Genting. Ok I admit that was a bit of an impulse. I was looking at the next counter to enter after I exited Seatrium. One was Genting the other SATS. Was attracted by Genting's volume, but entered too early in its decline. Was trading at 1.03 the day before, the suddenly plunged to 0.98 downwards. Entered at 0.965 early morning 9.15am thinking that the decline will end there, but hey, the selling pressure was still fast and furious and I overlooked that important observation. By the end of that day it was trading at 0.93, which I probably had it coming.. why didn't I wait a bit longer to see how the trend was going???? Ended up stuck with 5 lots of Genting, sitting on paper loss of about 10% period.
So lesson learnt - probably to see daily volumes, then monitor 3-5min volumes for any upward or downward pressure. If its well into the upward pressure, can buy. Shall not be smart Alec and play the shortsell game yet.
I sold UMS. Again, on impulse. But this time I decided that 1.5 is a pretty decent exit price, and I formed a hypothesis that somehow somewhere there is going to be a decline. How long will it take, I dunno. But I hope to scoop up at lower prices at some point. Last day of the month it ended well below my exit price. So, learnt another thing - profit taking🤭
Anyway currently my remaining UMS shares sitting in my CDP are all free shares haha. So nothing to lose for this one. This share is one with the most returns. Pushed up my portfolio by a lot.
Now I'm kinda excited to confirm my hypotheses with subsequent trades... but my funds are not coming in fast enough, limited opportunities for me to get my hands on.
Sigh.
Update #27:
Warchest: 6929.54
Dividends received YTD: 207.80
The market started the new year on a bad note. Market correction as rate expectations faded - again. All REIT stocks went into the red before finding some relief end month.
Tech stocks grew in volatility as future becomes uncertain - global tech players missing estimates. That affected the entire tech chain, and that included my UMS.
UMS also tryna make a bold move to call for placement. Made it take a further hit. Compared to the past where they conveniently do a stock split or offer new shares, this doesn't look really promising. Feels like a call for help and betting on more investments for survival.
Anyway I did not receive any Dividends this month... January tend to be a dividend free month.
Stocking up on my backup funds, time to do some shopping for low hanging fruit.
Update #26:
Warchest: 684.09
Dividends received YTD: 0.00